The German company’s investment program will see the funds injected over the next three years, in addition to existing budget, focussing on fundamental growth drivers as the Douglas brand, its private label product range, enhancement of customer experience and omni-channel capabilities.
The company will also invest significantly into broadening its international footprint, it says in a press release.
There will also be changes at management level too, as Douglas will move its headquarters from Hagen to Dusseldorf, merging all customer-facing functions currently based in Hagen with the company’s online team currently based in Cologne.
Administrative back office functions will remain in Hagen and the relocation is expected to be completed by fall 2016.
“We are convinced that this is the right strategy to secure and expand Douglas’ international market leadership,” says Dr Henning Kreke, former CEO and now chairman of the supervisory board.
“While we are aware that the move marks a major change for Douglas and its employees, the ability to change has always been a key driver for Douglas’ long-term success.”
Kreke, himself, has also been part of a management change, after the company announced his move to chairman and the search for a new CEO at the start of the year.
This search is now over as the company has appointed Isabelle Parize as its new CEO with immediate effect; moving from Nocibé where she served as president.
Commenting on the new investment program, Parize says: “It is our firm belief that Douglas will emerge from this process a stronger company: with our significant investments we will improve our ability to set market trends, address the needs of our clients and take the Douglas brand to the next level internationally.”
To fund investments in growth, the company plans to gain significant resources by organisational improvements, which will be adjusted to the needs of a pure omni-channel retailer for selective beauty products.
Furthermore, overlapping functions between headquarters and country subsidiaries will be reduced to make the organisation more agile and responsive to customer needs.
“The combination of all customer-facing functions under one roof will foster a truly customer-oriented culture," says Parize.
“Douglas is in an excellent starting position to further expand its position as the leading European champion in omni-channel beauty retail,” adds Dr Daniel Pindur, Senior Managing Director at CVC, shareholder of Douglas.